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Puck, Jonas; Hödl, Markus K.; Filatotchev, Igor; Wolff, Hans-Georg; Bader, Benjamin
Previous studies often associated a specific type of ownership mode
with the extent of control a parent firm may have over (strategic) decision-making
in a foreign subsidiary, suggesting that parent firms should have higher control
over wholly-owned subsidiaries (WoS) than international joint ventures (IJVs).
Building on principal agent theory, we argue that in the Chinese context higher
ownership levels do not necessarily have a positive effect on the extent of control
over the foreign subsidiary. We further argue that cultural distance between the
parent firm and the subsidiary moderates this relationship. We test our hypotheses
using data from a sample of 156 foreign subsidiaries in the People's Republic...
(application/pdf) - 05-nov-2016